Friday, May 16, 2014

On what planet does the Bank of England reside?

The UK has been reporting strong employment and good growth.  Meanwhile, Bank of England's Carney said that rates will stay low into next year anyway at a 0.5% level because inflation will stay near the bank's target of 2% through 2017 and growth will be modest.  Odd, since inflation, which is was 1.6% in the last report, was well above 2% all of last year and the economy is now accelerating.

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